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HOW TO SELL ON IKEA THIS YEAR: Full Tutorial on Ikea Seller Requirements ($745,850/Yr)🔶E-CASH S3•E87

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let me talk to you about a very exciting

opportunity here how do you sell on ikea

this year

don't you go anywhere you're gonna love

today's conversation i

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on to me guarantee i'm just the kind of

flowering

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[Applause]

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welcome back folks to another edition of

the awesome sweetie kiwi show how are

you today i hope you are doing fantastic

i'm doing marvelous if you ever ask me

if you are doing as great as i am go

grab a cup of coffee rt or vodka ls roll

in today's conversation i want to talk

to you about how to sell on ikea this

year how to be a profitable ikea

supplier okay

first thing first you need to have a

legit business and this is important i

don't care what kind of business you

have llc s corp c corp whatever you need

to make sure it is legit so first of all

i want you to go on on our kia website

right now and we are showing you the

link on the screen right now and you

will want to read about how to become an

ikea supplier

all the information is there it's very

dangerous so what we did with what we

what we're doing here is to actually

summarize things for you so you have you

know a click you have a clear idea of

the requirements okay but if you just

want to per use the the content yourself

on a saturday afternoon go to their

website ikea and it talks about the

supplier so when we talk about having a

legit business i want you to have right

now a legal structure the right legal

structure llc s corp c corp you want to

quit the whole thing about having a i

know i have a business but you have no

clear legal foundation for that business

we need to quit that contest right now

we want to legalize things you want to

have things legit so pick a legal

structure and you want to file whatever

paperwork is needed for that legal

structure to be actually become

valid in your state

okay i'm talking about articles of

incorporation

or articles of organization if you are a

an llc if you're a partnership okay you

want to contact the irs so you get your

ein your employer identification number

those are important elements okay

and it does it's free it's for you don't

have to pay anybody to get you the ein

you could do it yourself

think about opening a business bank

account the reason why i'm telling you

all these things is that

ikea is going to verify this they do an

extensive due diligence so they will

check all these things before approving

you okay so you want to make sure that

you open a business bank account you

want to think about having the licenses

and permits in the industry you're in

and when we talk about licenses and

permits we are speaking about at the

federal level but also at the state

level

because some industries are regulated at

the federal level

while some industries are regulated at

both the federal level and the state

level and of course you have some

industries that are just that only have

respond to state regulators so whatever

it is whatever the case may be make sure

that you have the right licenses and

permits and you want to have a business

address email and all that kind of stuff

so after proving to ikea that you are a

legit business you need to actually

prepare your financials because they

will go through your financials they

will make sure that you are you are

legit and not only legit but also

financially viable remember anytime the

ikea

pairs up with the with the business with

a supplier they have to risk their

financial position too because if they

give you an entire part of their supply

chain and you fail to to deliver that's

a problem for them so make sure that you

have the proper financial statements so

we're talking about what the four

financial statements we are speaking

about balance sheets we are speaking

about income statements we are speaking

about statement of cash flow

okay and shareholders equity now if you

are a single member llc you gonna have

an owner's equity not a shareholder if

you even if you're a multi-member llc

but you don't have shares in your

company you are talking about owner's

equity the bottom line is what bottom

line is you need to have the four

fundamentals

the the four fundamentals of financial

statements okay now in terms of making

financial statements yourself if you

have accounting value if you have an

account an accounting background you can

do that okay but if not don't try to

stress yourself out seriously because

you don't want to produce

less than stellar

financial statements and submit them to

ikea no

this company is the multi-billion dollar

company and you want to have the best of

the best from you okay so you can hire a

local cpa

a certified public accountant or you can

go you can hire someone online you have

a platform's as diverse as fiverr topdal

upwork freelancer.com and you have a

folks who are who have expertise in

accounting and financial reporting they

will prepare you a great set of

financial statements

okay and or you can do things with your

accounting software too you can use

quickbooks for example to actually

prepare quickbooks does it for you you

just have to input the data okay and

remember that uh so that's really

important so in terms of preparing your

financial statements don't do them

yourselves if you're not if you if you

don't have

the the kind of expertise needed okay

one thing i also want to say is that if

you have someone has prepared our ideal

our preference for you is to choose a

local cpa the reason is that if ikea

comes back tomorrow and asks questions

that local cpa can actually vouch they

can actually answer the questions for

you okay you can also do the same thing

with uh a freelancer but you're gonna

have to go back to the freelancer

multiple times either way you need to

have somebody else because

if ikea is asking you a very complicated

questions and you have no idea what

they're talking about whatever questions

they're throwing your way you're

thinking this is like a foreign language

then you're in a bad situation okay with

ikea remember you could you can sign up

you can sign multi a multi-million

dollar

agreement or count right so why risk all

that thing just for because of 200 get

the right staff on your team

all right boss

the third thing you need to do is you

need to comply it's very important when

it comes to ikea

they are very compliant very compliant

okay i'm talking about super super

compliant so

make sure that you understand for them

what what as a matter of fact they have

a a corporate compliance program within

the company

okay so you need to show ikea that you

are very compliant that you understand

their values and principles okay and by

compliance i'm also talking about

compliance vis-a-vis the industry you're

in because they will check for i was

talking to you earlier about business

licenses and permits right ikea wants to

make sure you are up to date on all

those uh permits

okay and it's important because remember

for them for them the whole thing the

whole thing is that they don't want to

have to deal with authorities

okay because you failed to comply with

the basic rules and regulations

governing the your industry okay so make

sure that you really really think about

that and you want to have a program in

place and again it doesn't matter if

you're a one-person business or a

multi-member llc you want to have a

program in place that is written

okay those you can't just like you know

i have the program in my head in my

brain

whatever no you wanna you wanna write

things down so that you can actually

show ikea that you have indeed a program

of compliance an in-house compliance

program you have internal controls

and processes that are meant to detect

errors to make sure that you totally

comply all the time so think about

having a ccp a corporate compliance

program okay and please get your

leadership on board

oh yeah you want to make sure the senior

management is on board when it comes to

the compliance program if you are a

single person company you are the leader

so make sure that you understand it too

but if you have a lot of folks to talk

to make sure they are all they are also

on board okay and when we talk about

compliance we are talking about a system

in which you actually conduct risk

assessments periodically

you establish and maintain your code of

conduct policies and standards very

important

you

you properly train whatever employees

you are working with whether they are

in-house employees or contractors okay

and improve your program with compliance

management software what i'm trying to

say here is that you want to paint the

right image for the ikea supervisor who

who is going to review your application

okay so remember number one have a legit

business number two have strong

financials number three have a strong

compliance program and document it it

has to be documented

number four i want you to

you need to understand ikea values if

you want to become an ikea supplier you

need to have a clear understanding of

ikea values and by the way some people

might be laughing right now but this is

this this ain't no joke ikea really

values their values

they really value their values okay they

they have a whole program they want to

make sure that

that suppliers understand and uh as you

know really embrace their

their culture and values okay and they

even have uh an entire

an entire section on their website that

talks about their values okay they want

to build with you a long-term

relationship based on trust

respect and transparency okay so it's

all this is not just that those are not

those are just not they're not empty

words for ikea those are really quite

essential so you want to make sure that

you model

your company in a way that actually uh

embraces those values okay so we're when

we talk about

ikea values there are six that actually

there are eight ikea values that i want

you to really understand and start

working on so when you have an

application package to

the you send an application package to

ikea they have a clear idea that you are

the right person you are the right

company for them so here are the we're

going to show them on the screen okay i

will show the the value and then i will

explain it

so here are the eight ikea key values

that you need to uh understand number

one togetherness

togetherness is really uh basically what

constitute the foundation of ikea

culture

okay they actually think of themselves

as together at the company's

headquarters in sweden but also all over

the world

number two caring for people and the

planet

so for that for them it's all about

sustainability making sure the business

is built around sustainability okay they

are cost conscious so cost consciousness

is number three

number four simplicity

okay number five renew and improve

number six different with a meaning

number four number

number okay one two three okay number

seven no sorry number one togetherness

number two caring for people and planet

number three cost consciousness number

four simplicity number five renew and

improve number six different with a mini

number seven give and take

responsibility okay number eight lead by

example the reason why i wanted to share

this these values with you is that i

want you to write an application uh

letter an application package that

actually focuses on those eight values

so that when you have an ikea supervisor

reviewing your application

they will feel like wow this person

really gets us this person understands

i'll be right back right after this

don't go anywhere

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welcome back folks to another edition of

the awesome sweaty kiwi show we're also

having a conversation today about uh

how to sell on ikea okay and just gonna

quickly uh contextualize the

the

the presentation for you

first you want to have a legit business

first

it's legit business number two you want

to have strong financials number three

you want to have a strong

corporate compliance program all those

two all those elements should be in the

application package that you sent to

ikea okay number four you need to

understand ikea values and make sure

that you mirror in your business in your

day-to-day activities those eight key

ikea values okay number five you need to

understand something called the ikea's

highway this is quite essential also

because uh actually the ikea's highway

is basically the ikea supplier code of

conduct this is a massive document but

we have we have summarized everything

here for you it's very very important

that you comply with this so this code

of conduct if you intend to be a

successful ikea supplier and you want to

make millions along the way over over

several years you need to comply with

this so being a good business is really

important to them so an issue it should

be important to you too right so before

you start your journey together with

ikea all partners must comply with the

minimum requirements of the ikea

supplier code code of conduct is called

the highway

so through highway ikea really strives

to create impact in four main areas and

you your company should be should be

doing the same thing too if you want to

get a multi-million dollar contract with

ikea so improving environmental impacts

securing decent and meaningful work

respecting children's right

improving the welfare of animals there

are present in the ikea value chain

so those are the four elements they pay

attention to in their highway in their

iowa now when we talk about so the

highway is structured around 10

principles which reflect the ikea

standpoints on different environmental

and social topics okay so here are the

ioa principles so iowa principles are

supported by effective routines and open

dialogue business is conducted lawfully

and with integrity children are

protected and opportunities for work

learning and family life are promoted

fundamental labor rights are respected

workers have time off work are paid

responsibly and have opportunities to

develop competence

workers health and safety are protected

working and living conditions are

suitable the planet is protected

resources including water and waste are

managed in a sustainable and circular

way and animal lives

animals live decent lives okay now

whether this is actually the truth and

reality this is beyond the purview of

this show i'm not going to comment on

that but this is what ikea wants to want

you to understand when it when they talk

about their ioa code of conduct okay so

the highway standard consists of the

iowa general section

the highway accommodation section

the highway animal welfare section

the iowa digital platform work session

the iowa forestry section the iowa

transport section i will develop more of

that little one

so the thing is if you want to work with

highway which is really important you

got to really think about how to

actually back up whatever you say to the

ikea supervisor reviewing your

application in other words do you

implement ioa in your day-to-day

activities as ikea says it does

okay so you have to also think about

within ikea how they implement ios so

that you can really understand how to

position yourself in the in the better

light so that your application will be

uh approved right off the bat okay and

so within ikea they have support and

collaboration with within ikea teams

okay so they pay attention to uh

verification and follow-up making sure

that

across the value chain things are being

done effectively they do peer-to-peer

learning okay and this is again i'm

explaining to you what they do

internally so that you can actually

mirror that or at least you can answer

any questions that they may ask you okay

so they have peer-to-peer learning this

is really good also and they also they

actually what they're doing is they are

constantly

upgrading how the systems works how the

processes and sub-processes work within

the highway uh iowa context okay what

i'm trying to say here is that the

highway is not a static documents

it's not a static process they are

constantly upgrading they're constantly

innovating they're constantly kicking

ass okay it's all about adapting to a

changing environment to a changing

environment adapting to a changing

realities because remember ikea is

is a multinational it's a global company

really they are present everywhere they

have stores everywhere right which means

that if you are able to get a con

contract with them you'll be selling to

masses

your business will just double triple or

quadruple whatever okay so this is very

important so it is not a status it's not

a static um

documents okay and one thing i want to

say here is that

very important to ikea is ensuring

animal welfare

through highway

they really want to pay attention to

because remember ikea deals with uh wood

right people have to cut trees and

animals have to be displaced or killed

whatever so ikea has really

made a i think an emphasis in their

activities to make sure that they

respect they they actually um give

credit to the environment okay so on the

screen right now i want to share with

you

here are the six parts of the ioa

standards that you need to pay attention

to now if you're interested you want to

on each screenshot we have actually

captured the hyperlink the web link so

you can go to that link and actually

rate the entire the the actual book okay

another book the uh

the policy manual okay so you have the

highway standard general section

so you have the highway standard

accommodation section

the highway standard animal welfare

section

the highway standard digital platform

works section

the highway standard forestry section

the highway standard transport section

now let me talk to you about the

application itself okay how do you apply

for

to become a member to become a supplier

an ikea supplier so

i'm gonna actually i'm i'm putting on

the screen right now

you can actually go to this particular

link on the screen

so first you have everything about how

to become an ikea supplier

okay you go to that link and then now

you the second link here you you click

become a supplier

so look on the screen right now so

first screenshot general info

click next

then you confirm that you have read the

iwaste supplier code of conduct

click next

now here they're asking you what is the

business of your company okay we have

chosen for this exercise the our

exercises really is fairly fictitious

okay but we have chosen manufacturer

only but you have a different different

categories you can be an agent you can

be a manufacturer with rd department you

can be a photographer painter or

creative designer you can you can be in

research and development or an r d

partner you can be a service provider

for major home appliances or you can be

a trader

but we chose manufacturer only

click next

here you have to see whether you want to

produce under the ikea brand or not

i mean we said yes because we want to

want you want to win that contract so

click next

here you have to put the number in the

number of employees you currently have

so that's your your head count

click next

here you have to talk about your

company's total sales per year we're

talking about annual revenue

click next

here you need to specify whether your

company have a company has export

capabilities for your products

just remember ikea is a global company

they want to make sure that whatever you

are exporting you have the right

licenses the right rights the right

authorization to do that

click next

here you want to specify your niche

okay click next so remember you can only

uh choose one to one to four primary

How to sell photos to ikea

HOW TO SELL ON IKEA THIS YEAR: Full Tutorial on Ikea Seller Requirements ($745,850/Yr)🔶E-CASH S3•E87

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